Australia's Etherstack jumps on upbeat outlook after contract win by its UK unit

Etherstack

27/05/2021 02:45

** Shares of Etherstack plc  ESK.AX  up as much as 16.8% to
A$0.660, their biggest intraday pct gain since Dec 7
    ** Wireless communications software firm says its UK unit
Etherstack Wireless Ltd has been awarded a contract with UK
Ministry of Defence for technology and services, with an initial
value of $311,000  urn:newsml:reuters.com:*:nASXccjkld
    ** Says now expects revenue for HY to be in the range of
$3.5 mln to $4 mln, an increase over the corresponding H1 period
in 2020 of between about 46% to 66%
    ** Stock trading at its highest since March 2, on track for
its fourth straight session of gains
    ** About 193,000 shares change hands, compared with the
30-day average volume of 40,000 shares
    ** Stock up 8.9% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))